Birchcliff Energy Ltd. (TSE:BIR) Receives C$7.41 Consensus Price Target from Analysts

Key Points

• Birchcliff Energy Ltd. has received a consensus recommendation of "Buy" from ten brokerages, with an average 1-year target price of C$7.41.
• The company recently declared a quarterly dividend of $0.03 per share, resulting in an annualized yield of 1.9%.
• Insider selling activity has been notable, with directors selling a total of 146,800 shares valued at over $1 million in the past ninety days.

Birchcliff Energy Ltd. (TSE:BIR - Get Free Report) has been given an average rating of "Buy" by the ten ratings firms that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and four have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$7.41.

Several research analysts have recently commented on BIR shares. National Bankshares raised their target price on shares of Birchcliff Energy from C$8.00 to C$8.50 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Royal Bank Of Canada lifted their price objective on shares of Birchcliff Energy from C$7.00 to C$8.00 and gave the company an "outperform" rating in a research note on Monday, June 30th. Atb Cap Markets upgraded shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Finally, Raymond James Financial raised Birchcliff Energy from a "hold" rating to a "moderate buy" rating and raised their target price for the company from C$7.50 to C$8.00 in a report on Thursday, August 14th.

Insider Activity

In other news, Director Aaron Jeffery Tonken sold 119,700 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of C$7.39, for a total value of C$884,583.00. Also, Senior Officer Robyn Bourgeois sold 26,800 shares of Birchcliff Energy stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of C$7.04, for a total transaction of C$188,672.00. Insiders sold 146,800 shares of company stock worth $1,075,465 over the last ninety days. 1.55% of the stock is currently owned by insiders.

Birchcliff Energy Price Performance

Shares of BIR remained flat at C$6.31 during mid-day trading on Friday. 390,443 shares of the stock traded hands, compared to its average volume of 1,097,797. Birchcliff Energy has a 12 month low of C$4.53 and a 12 month high of C$7.86. The stock has a 50 day moving average of C$6.73 and a 200-day moving average of C$6.39. The stock has a market capitalization of C$1.72 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 0.35 and a beta of 0.31. The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01.

Birchcliff Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, June 13th. Birchcliff Energy's dividend payout ratio is currently 92.86%.

About Birchcliff Energy

Birchcliff Energy Ltd is an intermediate oil and gas company that explores for, develops, and produces natural gas, light oil, and natural gas liquids. The company conducts its drilling program in resource plays located in the Peace River Arch region of Alberta. Birchcliff focuses on operating nearly all its high working production, which is surrounded by blocks of high working interest lands where it owns and/or controls the infrastructure.